Looking Into Progressive's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Progressive Corporation's (NYSE:PGR) short interest has decreased by 8.57% since the last report, with 3.73 million shares sold short, representing 0.64% of available shares. The average time to cover these short positions is 1.27 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Progressive has a lower short interest compared to its peer group average of 1.91%.
January 09, 2024 | 4:45 pm
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Progressive's short interest has decreased, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to an increase in its price in the short term. However, the article also cautions that this does not guarantee a price rise, and other market factors could influence the stock's performance.
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